Indraprastha Gas Ltd (IGL) shares today slipped 3.74% to Rs 194.30 per share on Bombay Stock Exchange (BSE). Global brokerage firm Jefferies upgraded Indraprastha Gas shares from underperform to buy category and raised target price as well from Rs 295 to Rs 505 per share. Board of Directors of the company today allotted 70,00,00,800 fully paid-up Bonus Equity Shares of the face value of Rs 2/- each in 1:1 proportion.
IGL shares surged 1.41% in last 1-week and fell 28.23% in last 6-months. The company’s market cap is Rs 27,202.03 crore and its ROE is Rs 16.00%. Check details below:
Indraprastha Gas Ltd Gives Bonus Shares Allotment Update
As per the exchange filing of the company dated Feb 1, 2025, “the Bonus Issue Committee of the Board of Directors of lndraprastha Gas Limited (“the Company”) at its meeting held today i.e., February 01 , 2025, has allotted 70,00,00,800 fully paid-up Bonus Equity Shares of the face value of Rs 2/- (Rupees Two only) each in the ratio 1:1 , i.e., 1 (One) new Bonus Equity Shares of Rs 2/- each for every 1 (One) existing Equity Share of ~ 2/- each fully paid- up, held by the shareholders of the Company as on the record date i.e., Friday, January 31, 2025.”
The company’s Bonus Issue Committee earlier fixed Friday, January 31 as record date 2025 to determine the eligibility of shareholders for the issuance of bonus shares.
IGL Shares Performance
The 52-week high price of IGL share is Rs 285.30 per share (as on 02/09/2024) and 52-week low price is Rs 153.25 per share (as on 21/11/2024), respectively. Indraprastha Gas shares slipped 11.59% in last 1-year, fell 8.22% in last 2-years, and zoomed 319.20% in last 10 years.
IGL Financials
The PSU earlier last month on January 27, 2025 declared a fall of 31% year-on-year (YoY) in its consolidated net profit at Rs 325.42 crore as government slashed APM gas allocation for CGD or city gas distribution firms. The company announced its net profit at Rs 475.45 crore in the corresponding quarter of last year, according to the BSE filing.
The company’s revenue from operations declared at Rs 4146.09 crore for the quarter under review as against Rs 3,926.19 crore announced in the similar quarter of last year. IGL’s compressed natural gas (CNG) volumes surged 6% to 616.61 million SCM for Q3 FY2025, soaring from 582.19 million SCM declared in similar quarter of last year.
IGL Dividend History
According to details available on Trendlyne, “Indraprastha Gas Ltd announced 26 dividends since September 14, 2004. In last 1-year, IGL recommended an equity dividend amounting to Rs 10.50 per share. At the current share price of Rs 194.30, Indraprastha Gas offers a dividend yield of 2.70%.
IGL About
Incorporated in 1998, IGL took over Delhi City Gas Distribution Project in 1999 from GAIL (India) Limited (Formerly Gas Authority of India Limited). With the backing of strong promoters – GAIL (India) Ltd. and Bharat Petroleum Corporation Ltd. (BPCL) – IGL plans to provide natural gas in the entire capital region. The two main business objectives of the company are to provide safe, convenient and reliable natural gas supply to its customers in the domestic and commercial sectors. To provide a cleaner, environment-friendly alternative as auto fuel to residents of the areas of NCT of Delhi; districts Gautam Budh Nagar, Ghaziabad, Hapur, Muzaffarnagar, etc, according to its official website.
Disclaimer
The stock has been picked from the brokerage report of Jefferies. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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